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Guavy AI Editorial Team••Sentiment: 3•Clout: 85

Altcoin Gains Outpace Bitcoin as Derivatives Data Indicate Bullish Markets

BTCHYPEUSDCcoinbase

Altcoins are taking center stage in the cryptocurrency market, with several tokens experiencing significant gains over the past 24 hours. According to derivatives data, Hyperliquid's HYPE has surged 16% to trade near $45, making it one of the top performers in the market.

The rally is being fueled by Bitwise's new spot Hyperliquid ETF and Coinbase's expanded role as Hyperliquid's official USDC treasury deployer. This development has increased activity on the decentralized exchange, particularly in its TradFi-linked markets.